2418914
Turbotax:
Last year I retired and started drawing social security payments. Do I have to pay taxes on the amount shown on line 5 of the form social security recently sent to me?
You'll need to sign in or create an account to connect with an expert.
It depends.
If you fall into the following, 85% of your social security is taxable income
If you fall into the following, 50% of your social security is taxable income
Your combined income is calculated by adding your
Social Security Benefits Taxes
Thanks Vanessa. That answers my question.
Don S.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Joanne9rose
New Member
Danielvaneker93
New Member
user17539892623
Returning Member
wcrisler
New Member
Cstark77
New Member